Glu Mobile loss rises, but results beat forecasts

SAN FRANCISCO (MarketWatch) -- Glu Mobile Inc.
GLUU, -0.85%
on Wednesday reported a fiscal first-quarter loss of $6.8 million, or 11 cents a share, on revenue of $21.5 million in revenue. During the same period a year ago, the developer of games for mobile devices lost $3.2 million, or 6 cents a share, on $16.4 million in sales. Excluding one-time items, Glu Mobile would have lost $500,000, or a penny a share. Analysts surveyed by FactSet Research had forecast Glu Mobile to lose 8 cents a share on $18.5 million in revenue. For its second quarter, Glu Mobile forecast a loss excluding one-time items of between 4 cents and 6 cents a share, with revenue in a range of $20.5 million to $21.5 million. Glu Mobile's shares rose as much as 9% in after-hours trading.

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